INSURANCE QUOTES ---> which to take?

Bill McNeil

Registered User
Here are my options according to Bel-Air direct. My insurance company may be cheaper, but I'm more concerned about which policy to take this year than the actual cost. The variances in cost will give an idea, regardless of the actual amount to be payed per month. These quotes all include the 5% insurance tax, and monthly plan fees.

LIABILITY $500,000
COLLISION $300 ded.
THEFT/DAMAGE $300 ded.

= $271.50 per month
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Now, same as above but..

NO COLLISION
THEFT/DAMAGE $300 ded

=$209.91 per month
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Now, same again but..

COLLISION $1000 ded
THEFT DAMAGE $300 ded

=$256.79 per month
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Now same again, but..

COLLISION $500 ded
THEFT DAMAGE $300 ded

=$265.46 per month
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Now, the same again, but...

NO COLLISION
NO THEFT/DAMAGE

=$191.50 per month
------------------------------------

Consider the following: I'm just getting the car painted from my old policy from the car being keyed at work. I won't be working there anymore, so hopefully no more keying incidents. Also, I only drive the car from about April-May to September, so harsh road conditions causing collisions (Matteson) won't be AS MUCH of an issue. If I hit a wall at 200km/h, I don't think collision insurance would help that either, but if the value is good, I'm open to considering it. My only fear would be them writing off the car like they tried to with Sean, and making off with the car and all my goodies. Can you imagine? Anyway, I purposely put the liability to 500,000 instead of 1,000,000. I figure if I'm in that deep, it won't matter anyway. Theft/Damage is a must I think, especially for those ugly fender benders, or someone trying to steal parts off my car.

Your opinions are appreciated!!!
 
Write off

Well

from my experience when i wrote off my 97 they would have given me the money for teh value of the car but laos buyig the car back at a supreme discount was also an option....

heres what i could have done and will do next time.....

gave me 11000 for the car and they took it away.... could have bought it back from them for 2500 as it sat, which is what they sold it to AADCO for. When i realized that I could have helped out a tonne of people with parts from it i went to aadco and they wanted 4100 for it, of course i said screw that and then cursed myself for not buying it back.... so the moral of the long winded story is that In the sad event that a car does get totally writen off there is still the option of taking the money and then buying it back at a cheaper rate.....

my 2 cents

JR
 
Bill, you would be well advised to take full coverages for your vehicle. IMHO the first option @272/mo gives you the best balance of coverage and deductible exposure if you need to make a claim.

Also IMHO you should have your vehicle appraised, if Sean's lesson has taught us anything it is that even though the "Red Book" value of our cars is low, we usually have a lot more money sunk into them that would be unrecoverable if the vehicle was to be a total loss. Be prepared to spend about $150-$200 for an appraisal. I may be wrong here but I think you have more money in your car than anyone else in the SCCOO, you should seek to protect your investment.

Just as an aside: Insurance is a bet between you and your insurance company. You are betting that you are going to make a claim and they are betting that you won't make a claim. The average claim frequency for most people is once every 7 years. So the insurer can win six times in a row and then lose big if you happen to win the bet and write off a car.

Hope this helps...

Paddy...
 
Bill take full coverage, you'll regret if you do not and you do have the unfortunate experience of having an accident.

Can you not find a lower quote? I personally pay 158/month for my truck, my ATV and a life insurance policy, the addition of a brand new 600cc street bike would only set me back another 118/month. Seems to me you are paying quite alot more than I.
 
Holy Crap!!! $200 for insurance!!! Sweet Jesus man, why so high? They haven't found out about your tickets yet right? My insurance is $80/month.

I would go for the gusto with the insurance always get collision. All it takes is a situation like Sean and you're screwed. I actually would up my monthly for an increased amount of coverage.
 
W# 905-760-1515
Call that number. Dave Berger is his name. Insurance is his game. Let him know that I send you, this should help out. If not, then sorry about that.:rolleyes:
 
Jared,

Thanks for the tip. I'm planning for an appraisal for after the car is painted, and the rest of my goodies are installed. I have a feeling getting an appraisal will raise the rates to much though. I'd like to know from someone who may have done it.

Paddy,

That is some good advice, I appreciate it. Everything is a gamble these days, and consumers usually lose.

Sabby,

I can definitely find a lower rate, I just used Bel Air direct as an example because their website allowed for more options on deductable, liability max etc.

Kirk,

I don't normally pay that much, Bel Air is a bit pricey. I do, however, pay close to $200 because of my speeding tickets (3).
 
Anyway, I purposely put the liability to 500,000 instead of 1,000,000. I figure if I'm in that deep, it won't matter anyway.
This is a bad idea. You'd be surprised how fast costs can escalate in certain types of accidents. 3rd party liability coverage doesn't raise the cost as much as carrying collision.

If you decide to insure your SC at its appraised value (which I assume will be noticeably more than the stock value), expect to pay higher insurance premiums as well. :(

[preach mode on] You need to slow down a bit there Bill.. you'd save yourself a big chunk of change if you had a clean record. When an insurance co requests your driving record they get all the infractions going back 5 years. :mad: [preach mode off]
 
My insurance is 800 bucks a year 1 ticket 4 years ago no claims no accidents
I carry 1 million liability
collision 1000.00 deductable
no fire and theft which will probably change real soon considering the money I have sunk in so far and I can't seem to stop myself
:D so the dollar value I put on my car will keep rising
 
Paul,

The insurance company I'm with now only has 1,000,000 liability, so I'll be taking that on regardless. I just chose that option on the BelAir wesbite to bring the quotes down a little, which gives a more accurate comparison to my company.

The only time a feel a deserved a ticket was coming home from St. Thomas going 153km on the 401. That was my mistake, and I was speeding intentionally. However, when I say I have 3 tickets, most people assume they are A) from the Thunderbird and B) somehow related to me driving at excessive speeds all the time. This, however, is not true. The other 2 tickets are 15km/h over the limit, going 65km/h in a 50 km/h zone, which just about everyone does. I don't feel I am a compulsive speeder, I just managed to get caught twice on the same street, knowing there are usually cops there. That was my ignorance more than anything.

I agree with you Paul, I'lll be much more careful in the Thunderbird this year. It just burns me up knowing I got 2 tickets driving the Explorer, when I have a car like the SC.
 
Bill, it's good that you are getting the $1,000,000 liability......like people mentioned before, you never know what can happen, after all, it is an accident.

If you want you can try Wawanesa Insurance (stop laughing at the name) they have decent rates. I pay around $1180.00 ($112/month) for full coverage and $1,000,000 liability.

As with any insurance company you get the usual run around and BS when you try to make a claim.:mad:
 
Steve,

I left my insurance broker about a year ago because the best price they could give me was Wawanesa, right after Zurich went out of the insuring business.

I got a better rate with Motors Insurance, and likely will this year also. I will contact my old broker again anyway, just to be sure.
 
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